Skye Bioscience Inc (SKYE)

[Vinpat]

It's a bit dramatic to say the company is dead. If they weren't able to raise a years worth of capital then you might be right but they did and that was after the $20 million debacle. I'm sure we'll eventually find out what happened but if one were to guess, they must have relied heavily on the local group connected to Schneider in moving forward on the deal and maybe those local people are liable as well. If the litigation moves forward then that would indicate there's money to recover because they're not going to pay attorneys if there aren't funds to recover.

The stock price is very frustrating but the other penny stocks in the sector have higher valuations mostly because they're pumping away. They're not ahead of Nemus in drug development. InMed has probably spent $200k pumping their biosynthesis story for a year like they're the only ones doing it and I think there's been some insider selling lately. Nemus should now have enough money to get into Phase II for their leading drug candidate that seems to have a high probability of being approved. Hardly a dead company.